Dimensional Fund Advisors LP Increases Stock Position in Banner Corporation $BANR

Key Points

• Dimensional Fund Advisors increased its Banner stake by 0.8%, adding 18,077 shares to own approximately 6.43% of the company, valued at $132.1 million. Institutional investors collectively hold 87.33% of BANR shares.
• Banner reported quarterly earnings of $1.44 per share, slightly below the $1.46 consensus estimate, while revenue of $172.11 million also missed expectations. The company declared a quarterly dividend of $0.52 per share, representing a 3.0% annualized yield.
• Analysts maintain a generally neutral outlook, with an average “Hold” rating and a $72.75 price target; BANR recently traded at $70.23.

Dimensional Fund Advisors LP grew its holdings in shares of Banner Corporation (NASDAQ:BANR - Free Report) by 0.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,177,070 shares of the financial services provider's stock after purchasing an additional 18,077 shares during the period. Dimensional Fund Advisors LP owned approximately 6.43% of Banner worth $132,104,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Financial Life Planners purchased a new position in Banner in the first quarter worth $30,000. Kemnay Advisory Services Inc. acquired a new position in shares of Banner during the 4th quarter worth $31,000. Aquatic Capital Management LLC acquired a new position in shares of Banner during the 3rd quarter worth $36,000. EverSource Wealth Advisors LLC purchased a new position in shares of Banner in the 2nd quarter valued at about $45,000. Finally, Lodestone Wealth Management LLC purchased a new position in shares of Banner in the 4th quarter valued at about $66,000. 87.33% of the stock is owned by hedge funds and other institutional investors.

Banner Stock Down 0.1%

BANR opened at $70.23 on Tuesday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.26. The firm has a market cap of $2.39 billion, a P/E ratio of 11.59 and a beta of 0.83. Banner Corporation has a 52 week low of $57.05 and a 52 week high of $72.65. The business's fifty day simple moving average is $66.76 and its 200 day simple moving average is $64.23.

Banner (NASDAQ:BANR - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The financial services provider reported $1.44 earnings per share for the quarter, missing the consensus estimate of $1.46 by ($0.02). Banner had a net margin of 23.55% and a return on equity of 10.72%. The firm had revenue of $172.11 million during the quarter, compared to analyst estimates of $174.54 million. As a group, equities research analysts anticipate that Banner Corporation will post 6.17 EPS for the current fiscal year.

Banner Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Tuesday, August 4th will be issued a dividend of $0.52 per share. The ex-dividend date is Tuesday, August 4th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.0%. Banner's payout ratio is 34.32%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on BANR shares. Keefe, Bruyette & Woods upped their target price on shares of Banner from $75.00 to $78.00 and gave the stock a "market perform" rating in a research report on Monday. Benchmark assumed coverage on shares of Banner in a research report on Wednesday, July 8th. They set a "hold" rating for the company. Wall Street Zen lowered Banner from a "hold" rating to a "sell" rating in a research note on Saturday. Piper Sandler raised their price objective on Banner from $63.00 to $67.00 and gave the company a "neutral" rating in a research note on Monday, April 27th. Finally, DA Davidson boosted their target price on Banner from $72.00 to $76.00 and gave the stock a "neutral" rating in a research report on Monday. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $72.75.

About Banner

Banner Corporation, through its principal subsidiary Banner Bank, operates as a regional commercial bank headquartered in Walla Walla, Washington. Founded in 2000 as a bank holding company, Banner traces its origins to community banking roots in Eastern Washington dating back to the late 19th century. Over the past two decades, the company has grown through both organic expansion and strategic acquisitions, establishing a strong presence throughout the Pacific Northwest.

The company offers a comprehensive suite of financial products and services for individual and business clients.

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